Gulf Resources announces Chairman Yang to resign, Liu elected as Chairman

Gulf Resources recently disclosed proposed management changes to come into effect during the Company’s annual meeting of shareholders which is to be hold on November 30, 2023, in a Form 8-K filed with the SEC on October 3, 2023. This information was reiterated to ensure shareholders were informed, given the possibility that some may have missed the initial 8-K filing. On September 28, 2023, Min Yang, the Chairman of the Board of Directors of the Company, informed the Board that he will not stand for re-election when his term expires at the Annual Meeting, and he tendered his resignation as Chairman of the Board effective as of the Annual Meeting. The Board accepted Yang’s resignation, effective as of the Annual Meeting, and elected Xiaobin Liu, Chief Executive Officer of the Company, as Chairman of the Board, effective as of the Annual Meeting. On September 28, 2023, Tengfei Zhang, member of the Board, the chair of the Compensation Committee and member of the Nominating and Corporate Governance Committee, of the Company, informed the Board that he will not stand for re-election when his terms expires at the Annual Meeting, and he tendered his resignation as the chair of the Compensation Committee and member of the Nominating and Corporate Governance Committee. The Board accepted Zhang’s resignation as the chair of the Compensation Committee and member of the Nominating and Corporate Governance Committee, effective as of the Annual Meeting. The Company has nominated a director candidate to fill in the resulted vacancy. The information about the director nominee was disclosed in the definitive proxy statement filed with the SEC by the Company on October 3, 2023.